STOCKHOLM, Sweden, Dec. 01, 2003 (PRIMEZONE) -- Trelleborg has signed an agreement to acquire Metzeler Automotive Hose Systems, a division of Metzeler Automotive Profile Systems SA. Metzeler's operations, which focus on hose systems for air supply and engine cooling, represent a strategic reinforcement of areas in which Trelleborg Automotive currently holds leading positions in, for example, France.
"The acquisition strengthens our market presence in Eastern Europe and contributes new customers and new products in segments we judge as offering favorable growth potential," says George Caplea, President of Trelleborg Automotive. "Metzeler has a strong technology platform that complements us well."
Metzeler Automotive Hose Systems has annual sales of approximately SEK 600 M (EUR 64 M) and some 850 employees. It is headquartered in Mannheim, Germany and the company maintains three production facilities in Poland, the Czech Republic and Italy, as well as sales offices in the UK and France. The company manufactures components and systems for engine-cooling, vacuum, and air-supply applications. The product portfolio includes rubber and silicone hoses.
The purchase price amounts to SEK 275 M (EUR 31 M). The acquisition is expected to provide a positive effect on earnings during 2004. The completion of the acquisition, expected at the end of the year, is conditional on the approval of the relevant competition authorities.
Trelleborg Automotive is the leading global supplier of antivibration and flow-system products, primarily to the light vehicles industry. Including the acquired operations, the business area will have annual sales of approximately SEK 9 500 M (EUR 1 050 M) with about 9,250 employees in 14 countries on four continents. The head office is in Michigan, in the US. Organizationally, Metzeler will form part of the Fluid Systems business unit.
Trelleborg is a global industrial group. Operations are based on spearhead competence within polymer materials and a high level of industrial know-how, combined with functional solutions and systems designed to meet the needs of our customers. The Trelleborg Group has annual sales of approximately SEK 22.5 billion, with about 21,000 employees in 40 countries. Trelleborg consists of five business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems, Trelleborg Building Systems and Trelleborg Sealing Solutions. The Trelleborg share has been quoted on the A list of Stockholmsborsen since 1964.
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